Bank of America Corp DE Decreases Position in ING Groep (NYSE:ING)

Bank of America Corp DE reduced its stake in shares of ING Groep (NYSE:ING - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,405,994 shares of the financial services provider's stock after selling 117,090 shares during the quarter. Bank of America Corp DE owned about 0.21% of ING Groep worth $116,052,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Roxbury Financial LLC purchased a new stake in shares of ING Groep in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group boosted its holdings in shares of ING Groep by 184.8% in the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,207 shares during the period. IFP Advisors Inc boosted its holdings in shares of ING Groep by 25.1% in the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 621 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of ING Groep in the fourth quarter valued at approximately $55,000. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of ING Groep by 20.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 665 shares during the period. Institutional investors own 4.49% of the company's stock.

ING Groep Stock Up 0.1%

ING Groep stock traded up $0.03 during mid-day trading on Friday, reaching $21.13. 932,620 shares of the company were exchanged, compared to its average volume of 2,262,403. The business has a fifty day moving average of $19.41 and a 200 day moving average of $17.42. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $73.90 billion, a P/E ratio of 9.87, a PEG ratio of 6.42 and a beta of 1.15. ING Groep has a 12-month low of $15.09 and a 12-month high of $21.22.

ING Groep (NYSE:ING - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The company had revenue of $6.36 billion for the quarter, compared to analysts' expectations of $5.74 billion. ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Research analysts anticipate that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a dividend of $0.6526 per share. The ex-dividend date was Friday, April 25th. This represents a yield of 5.1%. This is a positive change from ING Groep's previous semi-annual dividend of $0.17. ING Groep's dividend payout ratio is currently 64.45%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ING. The Goldman Sachs Group upgraded ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Cfra Research upgraded ING Groep from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ING Groep has an average rating of "Moderate Buy".

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.